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+Article 71 3. |
Article 71 3.The valuation policies and procedures shall describe the review process including sufficient and appropriate checks and controls on the reasonableness of individual values. Reasonableness shall be assessed in terms of the existence of an appropriate degree of objectivity. Such checks and controls shall include at least:
(a)
verifying values by a comparison amongst counterparty-sourced pricings and over time;
(b)
validating values by comparison of realised prices with recent carrying values;
(c)
considering the reputation, consistency and quality of the valuation source;
(d)
a comparison with values generated by a third party;
(e)
an examination and documentation of exemptions;
(f)
highlighting and researching any differences that appear unusual or vary by valuation benchmark established for the type of asset;
(g)
testing for stale prices and implied parameters;
(h)
a comparison with the prices of any related assets or their hedges;
(i)
a review of the inputs used in model-based pricing, in particular of those to which the model’s price exhibits significant sensitivity. 1. Übersicht
1.1 Referenzen1.2 Identifizierte Anforderungen1.3 Zugehörige Standards2. Identifizierte Anforderungen
3. Zugehörige Standards
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